31 Dec , 2021 By : monika singh
NEW DELHI – Shares of JSW Energy NSE 1.89 ?dedalmost 3 per cent in Friday's session after Life Insurance Corporation of India (LIC) acquired more than two per cent stake in the company via open market transactions, increasing shareholding to 9.01 per cent from 7 per cent earlier.
JSW Energy’s scrip touched a high of Rs 308 as against Rs 299.35 at the previous close on the National Stock Exchange.
On a comparable basis, adjusting for exceptional finance cost, profit after tax clocked in at Rs 414 crore as compared with the reported profit after tax of Rs 352 crore in the corresponding period of the previous year.
The reported net profit for the second quarter of the current financial year stood at Rs 339 crore while total revenue during the July-September 2021 increased 12 per cent year-on-year to Rs 2,237 crore as against Rs 2,000 crore in the year-ago period, primarily due to an increase in short-term sales and higher other income.
For the quarter under review, the company reported a consolidated total income of Rs 2237.36 crore, up 20.32 per cent from the previous quarter’s total income of Rs 1859.53 crore and up 11.89 per cent from last year same quarter total income of Rs 1999.52 Crore
Earlier this month, ICICI Direct gave a sell call on JSW Energy, setting a target price of Rs 156.
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